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Dixon enters into JV with Beetel for the manufacturing of telecom equipment

News: Dixon Electro Appliances (wholly owned subsidiary of Dixon Technologies) and Beetel have entered into a joint venture (JV) agreement to form a JV company to start manufacturing of telecom and networking products under the government approved PLI scheme. Dixon Electro will hold majority stake (51%) in the said JV.

Views: The JV is likely to invest Rs.180 crore in the next four years (starting FY22) to generate estimated annual turnover of Rs.1400 crore. Currently, India imports ~Rs.50,000 crore (~85% of its total requirements) worth of wireless telecom equipment. We believe entering into a new business segment would ensure a sustainable growth momentum for Dixon Technologies, going forward.